MAGI for IRMA .. for future years
I’m rolling my IRA to Roth and like to stay below the IRMA level .. lest I pay a 40% premium on my Medicare premiums.
So my question is WHEN & WHERE would we first hear what is in store for 2022, etc. Assume the IRS website ? I’m curious if I’d find out prior to Dec 31 so I can determine my rollover for this year. I realize that whatever they come up with for 2022 will pertain to my income of two years prior .. I hope they don’t lower the number !
(I saw one website has 174k predicted for 2022 and it’s currently 176k)
Appreciate any info, Thanks.
Permalink Submitted by Alan - IRA critic on Sat, 2021-06-12 19:12
Last year CMS released Medicare Premiums for 2021 on 11/6. Those dates are quite consistent form year to year so you will have plenty of time to determine your conversion. But as you said, your 2021 MAGI will determine your 2023 IRMAA tier, and you cannot predict exactly what the MAGI thresholds will be in 2023. I wouldn’t try to cut it too close. Link to that announcement below:
2021 Medicare Parts A & B Premiums and Deductibles | CMS
Permalink Submitted by RonC on Sat, 2021-06-12 21:10
Thank you .. I’ll keep our MAGI within this year’s limit .. not daring enough to anticipate an increase that would cover this year’s “overage”. If the limit went down tho, I’d be in trouble. Hopefully it’ll continue to climb.